Crossroads Provides Financing to Healthcare Products Supplier
Crossroads Financial announced that it has provided a $1 million inventory financing facility for the benefit of a supplier of healthcare products. The company, experiencing rapid growth, needed to leverage its inventory to create additional working capital to meet increased product demand and also to meet the demands of new customer relationships. Additionally, Crossroads has also provided a $1 million purchase order financing facility for the company’s use as it begins to secure large orders.
Crossroads partnered with Celtic Capital Corporation, the incumbent lender providing a $1.25 million receivable financing facility. By partnering together, Crossroads Financial and Celtic Capital are able to provide the maximum availability needed for growth that neither lender could have provided individually. This mutually beneficial relationship will generate more invoices for Celtic to finance, a win-win for everyone involved.
Crossroads Financial is a stand-alone inventory lender offering revolving lines of credit against existing inventory, as well as purchase order financing.